Legal Definitions - ex bonis

Ex bonis is a Latin term used in civil law to refer to matters concerning a person's goods, assets, or property. Essentially, it relates to everything an individual owns that has monetary value, such as real estate, personal belongings, investments, or funds.

Here are some examples illustrating the application of "ex bonis":

• Estate Administration: When an individual passes away, a court might oversee the process of identifying and distributing their possessions to heirs or beneficiaries. In this context, the court is dealing with the deceased's "ex bonis" – all their property, assets, and financial holdings – to ensure they are managed and distributed according to legal requirements, whether there is a will or not.

• Bankruptcy Proceedings: If a company files for bankruptcy, a legal professional, such as a trustee, is often appointed to take control of the company's assets. The trustee's role involves assessing and managing the company's "ex bonis" – which could include its inventory, machinery, real estate, and financial accounts – with the goal of liquidating these assets to pay off creditors.

• Property Disputes: Imagine a situation where two parties are involved in a lawsuit over the rightful ownership of a valuable piece of art or a collection of rare coins. The legal proceedings would focus on determining who has the legitimate claim "ex bonis" – specifically, who legally owns these particular goods or items of property.